Yes it will. This is a trade off with streaming, you have to find the median point of highest quality video and smoothest playback. Smooth playback being of higher importance then video quality.
You can use this module to check the bandwidth between client and server:
You can also trace the route from server to client with a console/terminal command of:
And you can read through this guide to try and mitigate poor video quality:
eg: traceroute wowza.com
How to troubleshoot live streaming
Adaptive bitrate streaming will deliver the highest quality video that the playback client connection can handle and will change on the fly as the connect fluctuates. So it is a dynamic median between highest video quality and playback.